What exhibit outlines the Development Agreement related to a Hardees Franchised Restaurant?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
In order to stimulate the development of new franchised Hardee's Restaurants and the continued expansion of the System at eligible travel center and gas and convenience locations, HR has established the 2025 HR Travel Center Development Incentive Program (the "Travel Center Program"). B. To be eligible for the Travel Center Program, the following requirements must be satisfied: (i) the Hardee's Restaurant must be located at a travel center location or gas and convenience location that is within ½ mile of an interstate or limited access highway and must include a combination of high rise pylon sign, billboard or other highway sign, (ii) the travel center location or gas and convenience location must be opened pursuant to a Development Agreement dated no later than May 24, 2026, (iii) Franchisee must open the Franchise Restaurants from a travel center location or gas and convenience location by the date(s) outlined in the corresponding Development Agreement, (iv) Franchisee may not be in default of its obligations under its existing franchise agreements or related agreements with HR or its affiliates, (v) Franchisee must be approved for growth by HR and its affiliates, (vi) Franchisee must satisfy HR's then current financial and operational requirements for new restaurant development, and (vii) Franchisee and the Hardee's Restaurant(s) otherwise meet the requirements of the Travel Center Program. C. Franchisee and HR are parties to a Development Agreement dated as of, ,.
Source: Item 22 — Contracts (FDD page 85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the excerpts provided discuss Development Agreements in the context of incentive programs for travel center and gas/convenience locations. Specifically, the document mentions the '2025 HR Travel Center Development Incentive Program' and the '2025 HR Development Incentive Program for Conversion Restaurants.'
To be eligible for either of these programs, a Hardees restaurant must be located at a travel center or gas/convenience location opened pursuant to a Development Agreement dated no later than May 24, 2026. The franchisee must also open the restaurant by the date(s) outlined in the corresponding Development Agreement. Further eligibility requirements include not being in default of other agreements with Hardees, approval for growth by Hardees, and satisfying the franchisor's financial and operational requirements for new restaurant development.
While the excerpts refer to the existence and importance of Development Agreements, they do not specify which exhibit contains the actual agreement. A prospective Hardees franchisee should ask the franchisor for the specific exhibit number or section of the FDD that includes the Development Agreement to fully understand its terms and conditions.